The Board of Directors of Filinvest REIT Corp. (FILRT) today announced a regular quarterly cash dividend of ₱0.062 per outstanding common share. This dividend will be distributed to stockholders of record as of June 20, 2025, with payment scheduled for June 27, 2025.
This declaration brings FILRT’s total dividends for 2025 to ₱0.124 per common share, representing an annualized yield of 7.8 percent based on the closing share price of ₱3.19 on June 2, 2025. This latest quarterly dividend covers the income period from January to March 2025.
In a significant move to expand its asset base, FILRT also announced that it has received approval from the Securities and Exchange Commission (SEC) on May 27, 2025, for a property-for-share swap transaction with its sponsor, Filinvest Land, Inc. (FLI). This strategic deal involves the transfer of ownership of the main mall building of Festival Mall, Alabang, to FILRT in exchange for newly subscribed primary shares of FILRT.
Shareholders had previously approved this transaction at a special stockholders’ meeting on March 4, 2025. The acquisition adds 121,862 square meters of gross leasable area (GLA) to FILRT’s portfolio. In return, FLI subscribed to 1,626,003,316 primary common FILRT shares at an issue price of ₱3.85 per share, valuing the transaction at an aggregate of ₱6,260,112,766.60. The issue price was set at a 30 percent premium over FILRT’s 30-day Volume Weighted Average Price (VWAP) on the announcement date and falls within the fair value range provided by FTI Consulting and Leechiu Property Consultants.
With the addition of Festival Mall, FILRT’s portfolio GLA has increased by 37 percent to 452,310 square meters. This acquisition also significantly extends the Weighted Average Lease Expiry (WALE) of FILRT’s properties from an estimated 7.3 years to 14.6 years.
“We are pleased to infuse a value-adding asset to our growing portfolio,” said Maricel Brion-Lirio, President and CEO of FILRT. “Our priority remains focused on increasing shareholder value by growing the company and delivering consistent dividends to the public.”
The revenue stream from the Festival Mall infusion will accrue to FILRT beginning May 29, 2025, and its impact will be reflected in the next dividend announcement. Concurrently, FLI’s holdings in FILRT have increased from 51.06 percent to 63.27 percent as of the same date.
